AXG Revenue Surges 895% as Stablecoin and Fiat Trading Volume Reaches $1.04 Billion

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Company builds expansion strategy around institutional payments and treasury services as global stablecoin market grows 48.9% and business payment activity accelerates

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HONG KONG, Sept. 18, 2026 (GLOBE NEWSWIRE) — SOLOWIN HOLDINGS (Nasdaq: AXG) reported $28.05 million in revenue for the fiscal year ended March 31, 2026, approximately 895% above $2.82 million a year earlier. Stablecoin and fiat trading volume increased 395% to $1.04 billion, adding approximately $830 million in annual activity as the company develops its institutional digital-finance business.

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AXG’s operating progress extended across its platforms. Client assets under administration increased 347% to $848.8 million, AX ONE processed $226 million in payment volume, and FERION completed 10 tokenization projects representing $52 million in value. AI infrastructure contributed approximately $22.2 million, or 79% of group revenue, while Digital Asset Tokens contributed approximately $5.6 million. The company recorded a $13.29 million net loss.

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The results place AXG’s expansion against a substantial increase in global stablecoin adoption. Stablecoin market capitalization grew 48.9% during calendar 2025, adding $102.1 billion to reach $311 billion. AXG’s revenue increased nearly tenfold during its fiscal year; company revenue, trading activity and industry market capitalization are distinct measures with different reporting periods.

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A concentrated market with emerging institutional alternatives.

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Tether’s USDT and Circle’s USDC remain the dominant stablecoins. At June 2026, their respective market capitalizations of $184.4 billion and $73.5 billion represented approximately 84.5% of the $305.1 billion global stablecoin market. Separately, Tiger Research estimated in February 2026 that approximately 99% of stablecoin market capitalization was U.S. dollar-pegged, underscoring both demand for digital dollars and policy concerns surrounding domestic-currency sovereignty.

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Regional payment activity is beginning to diversify. CoinDesk Research reports that USDT’s share of identified Asia-Pacific stablecoin payment volume declined from 98% at the beginning of 2025 to 91% in July 2026. The shift suggests growing participation by alternative stablecoins as institutions evaluate licensing, reserve transparency, custody and integration capabilities alongside liquidity.

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Business payments create a measurable expansion opportunity

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McKinsey and Artemis estimate that stablecoin payments reached $390 billion on an annualized basis using December 2025 activity, more than double the previous year’s level. Business-to-business payments accounted for approximately $226 billion, increasing 733% year over year.

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Asia-originated payments represented approximately $245 billion, followed by $95 billion from North America and $50 billion from Europe. These flows provide a commercial foundation for institutional supplier payments, cross-border settlement, payroll and treasury management.

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Inflation and transaction costs reinforce the demand for more efficient financial services. Annual inflation reached 33.5% in Argentina and 31.51% in Türkiye in August 2026, while the World Bank’s third-quarter 2025 benchmark placed the average cost of sending a $200 remittance at 6.36%. Such conditions can encourage demand for dollar access and lower-cost transfers, although a dollar peg does not eliminate U.S. inflation exposure.